It will be a large battery factory, in which the duo intends to invest $4-5 billion.
Hyundai Motor Group (HMG) and SK On (SK Innovation’s lithium-ion battery subsidiary branch) announced that their new EV battery manufacturing facility will be built in Bartow County, Georgia.
The details of the partnership are still in development (MOU was announced in late November), but it’s already known that the two South Korean companies intend to invest approximately $4-5 billion, which indicates a large battery factory.
According to the press release, more than 3,500 new jobs will be created at the site after it starts volume production in 2025.
We previously thought that the new battery plant would be built at the upcoming Hyundai Motor Group Metaplant America (HMGMA) plant in Bryan County, Georgia, but it will be a different location – in Bartow County, over 300 miles away. That’s actually a reasonable decision considering that the new battery plant is expected to supply lithium-ion cells also for the Hyundai Motor Alabama Plant (HMMA) and Kia Georgia Plant (KaGA) – all within several hundred miles.
This new investment is another big win for Georgia, which since 2020 attracted many EV-related projects – the total value of the investements amounts to approximately $17 billion (according to announcements), while the number of new jobs is expected to exceed 22,800. That’s excluding the latest $4-5 billion battery factory with more than 3,500 jobs.
SK On’s EV battery plants in the US
The new joint venture is also important for SK On’s expansion in the US, which is expected to translate into a combined output of up to 180 GWh of EV batteries annually in 2025.
That includes 150.5 GWh/year already contracted (five plants) and a potential of around 30 GWh/year from the latest joint venture.
Hyundai Motor Group and SK On battery JV in brief:
- jointe venture between Hyundai Motor Group (HMG) and SK On
- location: Bartow Centre, Georgia
a zoned manufacturing and industrial site located on Highway 411 - battery type: lithium-ion cells for electric vehicles
- manufacturing capacity (target): N/A
- production start (target): 2025
- expected to supply HGM plants in
Keyword: Hyundai Motor Group And SK On Selected Site For Its Battery JV In Georgia